Does the Jack of All Trades Hold the Winning Hand?:Comparing the Role of Specialized Versus GeneralSkills in the Returns to an Agricultural Degree

This paper examines the roles of specialized versus general skills in explaining variation in thereturns to an agriculture degree across majors inside and outside the agricultural industry. Thefocus on returns by sector of employment is motivated by the finding that most agriculturalmajors are employed in non-agricultural jobs. A sample of alumni graduating from a largeMidwestern Public University between 1982 and 2006 shows that alumni with majors morespecialized in agriculture earned a premium from working in the agriculture industry, but thisadvantage has diminished over time. More generally trained agriculture majors earn moreoutside than inside agriculture, and their advantage has increased over time. During sectoraldownturns in the agriculture economy, more specialized majors suffer large pay disadvantagescompared to more generally trained agriculture majors and majors in other colleges. Thesefindings suggest that greater levels of specialization may limit a graduate’s ability to adjust tochanging economic circumstances. Agriculture degree programs could benefit from curriculuminnovations focused on developing more generalized skills.[...]